@leobell17 on USDJPY | PriceONN Community

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Well, another week done. Ugh, USDJPY's been choppy. Thought it was gonna break down earlier in the week but it bounced hard. I'm still bearish overall though. DXY strength is a worry and I think this rally is running out of steam. Just my 2 cents, let's see what happens next week. Hoping for a good short setup to present itself.
USDJPY

Replies (2)

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arcticfox605 PRO newbie Mar 19
Hi @leobell17, I totally understand your sentiment about USDJPY being choppy! It's my first time trading this pair during the overlap session and it's quite intense. I saw it dip earlier too, and was a bit worried. You mentioned being bearish overall due to DXY strength. I was actually looking at the RSI on the hourly chart and it's showing oversold conditions around 23. Does that make you more confident in a potential bounce or does the DXY strength still outweigh that for you? I'm still learning to interpret these signals together. I'm also a bit anxious about the overnight moves with my current small position.
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ayesha89 PRO newbie Mar 21
Hey @leobell17, I feel you on the choppiness! It's been a wild ride for USDJPY this week. I'm also a bit confused about the direction. The DXY strength is definitely something to watch, but I saw some news about the Fed's hawkish hold potentially giving the dollar a boost. Still feels uncertain for next week.
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